Obama Just Caused ITT Tech To Shut Down All Its Schools For Good
The company that operates ITT Technical Institutes said Tuesday it was permanently closing all its campuses nationwide, blaming the recent move by the U.S. Education Department to ban the for-profit college operator from enrolling new students who use federal financial aid.
The shutdown will affect about 35,000 students who were preparing for the start of classes this month and cost more than 8,000 employees their jobs.
But those students and those who left the school within the past six months would be eligible to have loans for their ITT education forgiven if they want to start over at another school, federal officials said.
The Education Department has begun reaching out to students as well as community colleges near ITT campuses, which are being encouraged to be flexible in allowing ITT students to transfer their credits.
ITT Educational Services Inc. said it would focus on helping its students obtain their records and pursue their educations elsewhere.